In millions, except per share items | Dec-31-22 | Dec-31-21 | Dec-31-20 | Dec-31-19 | Dec-31-18 | Dec-31-17 | Dec-31-16 | Dec-31-15 |
Revenues | 702.8 | 738.0 | 599.6 | 649.6 | 503.6 | 319.9 | 305.8 | 307.3 |
Revenue growth | -4.8% | 23.1% | -7.7% | 29.0% | 57.4% | 4.6% | -0.5% | -0.4% |
Cost of goods sold | 0.0 | 261.4 | 252.0 | 240.9 | 196.3 | 142.6 | 134.5 | 130.5 |
Gross profit | 702.8 | 476.6 | 347.7 | 408.7 | 307.4 | 177.3 | 171.4 | 176.8 |
Gross margin | 100.0% | 64.6% | 58.0% | 62.9% | 61.0% | 55.4% | 56.0% | 57.5% |
Selling, general and administrative | 245.7 | | | | | | | |
Sales and marketing | | 9.9 | 9.9 | 11.6 | 10.0 | 7.8 | 7.8 | 7.2 |
General and administrative | 228.9 | 48.0 | 38.9 | 35.6 | 28.7 | 28.8 | 31.4 | 29.7 |
EBITA | 476.5 | 347.4 | 234.0 | 294.0 | 252.0 | 116.4 | 122.4 | 128.2 |
EBITA margin | 67.8% | 47.1% | 39.0% | 45.3% | 50.0% | 36.4% | 40.0% | 41.7% |
Amortization of intangibles | 10.8 | 13.9 | 16.6 | 18.5 | 12.8 | 6.1 | 7.2 | 8.4 |
EBIT | 465.7 | 333.5 | 217.4 | 275.5 | 239.1 | 110.4 | 115.1 | 119.7 |
EBIT margin | 66.3% | 45.2% | 36.3% | 42.4% | 47.5% | 34.5% | 37.6% | 39.0% |
Pre-tax income | 280.0 | 318.8 | 186.3 | 231.3 | 179.4 | 105.0 | 101.8 | 90.4 |
Income taxes | 45.4 | 54.8 | 28.1 | 37.6 | 30.0 | 32.8 | 25.9 | 23.3 |
Tax rate | 16.2% | 17.2% | 15.1% | 16.2% | 16.7% | 31.2% | 25.5% | 25.8% |
Earnings from continuing ops | 222.6 | 252.0 | 152.6 | 193.7 | 149.4 | 72.2 | 75.9 | 67.1 |
Earnings from discontinued ops | | | | -0.2 | -3.2 | 1.3 | 2.4 | |
Net income | 222.6 | 252.0 | 152.6 | 193.5 | 146.2 | 72.9 | 77.5 | 67.1 |
Net margin | 31.7% | 34.2% | 25.4% | 29.8% | 29.0% | 22.8% | 25.3% | 21.8% |
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Diluted EPS | $2.97 | $3.26 | $1.93 | $2.41 | $2.27 | $1.65 | $1.73 | $1.49 |
Shares outstanding (diluted) | 75.0 | 77.4 | 78.9 | 80.3 | 65.9 | 43.8 | 43.9 | 45.1 |
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EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges. |